GCC-listed companies earnings shrink in third quarter

Times of Oman | Dec 4, 2019 at 5:18 PM
  • The top three banks in the GCC in terms of 2019 third-quarter net profit were ENBD ($1.4 billion), QNB ($1.05 billion) and First Abu Dhabi Bank ($0.85 billion) in profits during the quarter.
  • The GCC real estate sector, the fourth largest sector by market-cap, witnessed a 6.4 per cent y-o-y decline in 2019 third-quarter net profits that reached $1.04 billion down from $1.1 billion in 2018 third quarter.
  • GCC materials sector, the second-largest sector in the region by market cap, witnessed 70.7 per cent y-o-y decline in 2019 third-quarter net profits that reached $0.82 billion down from $2.72 billion in 2018 third quarter.